Aircraft Titanium Fasteners Market to Grow CAGR of 6.4% during 2018 - 2023

Stratview Research announces the launch of a new research report on Aircraft Titanium Fasteners Market by Type (Narrow-Body Aircraft, Wide-Body Aircraft, Very Large Body Aircraft, Regional Aircraft, General Aviation, and Military Aircraft), by Product Type (Screws, Bolts, Nuts, Rivets, and Others), by Application Type (Airframe, Flight Control Surfaces, Interior, Engine, and Others), by End-User Type (OE and Aftermarket), and by Region (North America, Europe, Asia-Pacific, and Rest of the World), Trend, Forecast, Competitive Analysis, and Growth Opportunity: 2018-2023.

This report, from Stratview Research, studies the aircraft titanium fasteners market over the trend period of 2012 to 2017 and forecast period of 2018 to 2023. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.

The Aircraft Titanium Fasteners Market: Highlights

Fasteners are an integral part of aircraft hardware which is used to assemble and hold various parts of an aircraft together. The aviation industry is always keen to adopt parts which can reduce overall aircraft weight, thereby leading to an improvement in fuel economy and reducing emissions. Fasteners are present in huge numbers in an aircraft as about 45%-50% of the components used in an aircraft are fasteners. For instance; Airbus’ A380 aircraft has six million components out of which more than three million are fasteners. Titanium fasteners offer significant weight reduction over traditional steel and aluminum fasteners, which has created a huge interest to the industry players to switch towards titanium fasteners despite their high cost.

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The market for titanium fasteners for the aircraft industry is likely to be prosperous in the coming years with significant growth opportunities in the entire market value chain. It is estimated that the aircraft titanium fasteners market is likely to witness an impressive CAGR of 6.4% CAGR during the forecast period. The growth of titanium fasteners is likely to be much greater (6.4% vs 5.1%) than the overall aircraft fasteners market in the coming five years. This represents an increased preference for titanium fasteners over their counterparts.

Increasing commercial and regional aircraft deliveries to support rising air passenger traffic; increasing share of wide-body aircraft in commercial aircraft deliveries, increasing aircraft fleet size, an advancement in the fastening technologies, and rising demand for lightweight and high-corrosion-resistant fasteners are the key factors that are proliferating the demand for titanium fasteners in the aircraft industry. Titanium fasteners offer significant weight reduction as compared to steel or aluminum counterparts. They also have a high strength-to-weight ratio, excellent corrosion resistance, and can sustain high-temperature environments.

Another factor driving the demand for titanium fasteners is the compatibility of titanium with carbon composites. Carbon composites have been gaining shares in the structural sections of the aircraft as most of the next-generation aircraft programs including A350XWB and B787 are incorporated with carbon composites up to 53% of their structural weight. This further assures the demand for titanium fasteners in the coming years.

Based on the aircraft type, the aircraft titanium fasteners market is divided into Narrow-Body Aircraft, Wide-Body Aircraft, Very Large Body Aircraft, Regional Aircraft, General Aviation, and Military Aircraft. Narrow-body aircraft is projected to remain the largest aircraft type segment of the market during the forecast period of 2018 to 2023, propelled by best-selling A320 family and B737 aircraft programs including their fuel-efficient variants. However, wide-body aircraft is expected to grow at the highest CAGR during the forecast period. Increasing production rates of A350XWB and B787 are likely to spur the growth of the segment at a higher pace in the near future. Furthermore, the expected entry of fuel-efficient variants of B777 and A330 (B777x and A330neo) is likely to create an additional demand for titanium fasteners in the coming years.

North America is expected to remain the largest market for aircraft titanium fasteners during the forecast period. The region is the world’s manufacturing capital of the aircraft industry with the presence of many large-to small-sized aircraft manufacturers, tier players, titanium fasteners manufacturers, distributors, and raw material suppliers. The region is the early innovator and introduces the latest technologies addressing the existing as well as future requirements than these technologies gradually transmitted to other parts of the world like China and India.

Asia-Pacific is likely to depict the highest growth during the forecast period with China, Japan, and India being the key sources of growth. Substantial growth in air passenger and freight traffic in China and India are compelling aircraft manufacturers and tier players to open their manufacturing plants in the region. Also, both countries are incessantly increasing their defense budget with the purpose to acquire the latest military aircraft to solidify their defense capabilities. This, in turn, will create a healthy demand for fasteners in these countries in the coming years. The involvement of Japanese conglomerates to become the risk-sharing partners in the next-generation commercial aircraft and upcoming indigenous regional aircraft (Mitsubishi MRJ) will further boost the demand for titanium fasteners in the aircraft industry in the region.

The supply chain of this market comprises raw material suppliers, aircraft titanium fasteners manufacturers, distributors, tier players, aircraft OEMs, airline companies, aircraft leasing companies, and MRO providers. The key aircraft titanium fasteners manufacturers are Arconic Fastening Systems, Cherry Aerospace (a subsidiary of Precision Castparts Corp.), Lisi Aerospace, Stanley Black & Decker Inc., Trimas Corporation, National Aircraft Fasteners Corp., B&B Specialties, Inc., Penn Engineering, and TFI Aircraft Corp.

Report Features
This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:
• Market structure: Overview, industry life cycle analysis, supply chain analysis
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
• Market trend and forecast analysis
• Market segment trend and forecast
• Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
• Attractive market segments and associated growth opportunities
• Emerging trends
• Strategic growth opportunities for the existing and new players
• Key success factors
The aircraft titanium fasteners market is segmented into the following categories.

Aircraft Titanium Fasteners Market by Aircraft Type:
• Narrow-Body Aircraft
• Wide-Body Aircraft
• Very Large Body Aircraft
• Regional Aircraft
• General Aviation
• Military Aircraft
Aircraft Titanium Fasteners Market by Product Type:
• Screws
• Bolts
• Nuts
• Rivets
• Others
Aircraft Titanium Fasteners Market by Application Type:
• Airframe
• Flight Control Surfaces
• Interior
• Engine
• Others
Aircraft Titanium Fasteners Market by End-User Type:
• OE
• Aftermarket
Aircraft Titanium Fasteners Market by Region:
• North America (Country Analysis: the USA, Canada, and Mexico)
• Europe (Country Analysis: Germany, France, the UK, Russia, and Rest of Europe)
• Asia-Pacific (Country Analysis: China, Japan, India, and Rest of Asia-Pacific)
• Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

About Stratview Research
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This release was published on openPR.